NEW JERSEY CRIMINAL LAWYERS

Arlington PPP and EIDL Loan Fraud Lawyers

Protect Your Business from DOJ Investigations for PPP Loan Fraud

The Paycheck Protection Program (PPP) was a much-needed financial lifeline for businesses affected by the economic downturn caused by the Covid-19 pandemic. Nevertheless, many companies have been accused of taking advantage of the program, resulting in a wave of PPP loan fraud. Currently, federal and state authorities are investigating these fraudulent acts, and the U.S. Department of Justice (DOJ) has stepped up its efforts to identify cases of fraud in the program. If your company is facing a DOJ investigation due to Paycheck Protection Program loan fraud allegations, you need to know how to defend against it and avoid penalties.

Facing DOJ Prosecution for PPP Loan Fraud

The DOJ does not take lightly any act identified as PPP loan fraud since it undermines the integrity of the program. Therefore, they are pursuing charges against anyone found breaking its rules or misappropriating PPP funds. While these efforts aim to prevent similar instances from happening again in the future, they have made things difficult for those who unintentionally or unknowingly made mistakes while attempting to apply for loans or using them.

Consult with an Experienced PPP Loan Fraud Attorney

To successfully defend yourself against a DOJ prosecution on Paycheck Protection Program loan fraud allegations requires competent legal representation with vast knowledge and expertise navigating regulatory inquiries surrounding such cases that can help you develop a robust defense strategy tailored to your situation. This underscores why seeking counsel from an experienced attorney early enough is vital if you intend to avoid long-term negative outcomes. At Spodek Law Group, we have attorneys who specialize in this area and can assist you in reviewing your case’s details and determining your legal rights and options.

Potential Defenses Against PPP Loan Fraud Charges

Numerous defense strategies can help you evade prosecution by the DOJ for alleged PPP loan fraud. The following are some examples:

Prove Compliance with SBA Requirements

Following good faith principles in compliance with SBA requirements is the most effective way to defend against PPP loan fraud allegations. Having meticulous documentation of your PPP fund spending and adhering to the program’s requirements can allow your defense team to withstand intense DOJ scrutiny.

No Intent to Defraud

To press charges for alleged Paycheck Protection Program loan fraud, the DOJ will have to demonstrate that you had an intent to defraud. If you made unintentional mistakes when applying for loans or utilizing funds, but otherwise acted in good faith, you can use this factor in your defense. Nevertheless, even unintentional errors may come with severe penalties. If you are under investigation, contact an attorney immediately to protect your rights from the beginning.

Federal Statutes Underpinning Criminal Charges

Numerous pre-existing federal statutes could provide a basis for criminal charges stemming from fraudulent PPP loans. It is crucial that you communicate with your attorney about all possible allegations that may arise. Examples of these include bank fraud, wire fraud, aggravated identity theft, tax evasion, conspiracy, making false statements to federal agents or the SBA, pseudo PPP loans and false claims act violations.

PPP Loan Fraud Charges Filed by the DOJ

The U.S. Department of Justice has already brought numerous charges in various cases alleging Paycheck Protection Program loan fraud actively pursuing several high-profile PPP loan fraud cases alongside other federal law enforcement agencies. With their vast resources at hand, retaining competent legal representation by experienced PPP loan fraud attorneys such as Spodek Law Group is critical if you intend to protect your interests and keep the DOJ from making an example out of you.

The Defense Against PPP Loan Fraud Charges

If you’re facing investigations by the DOJ for allegations of Paycheck Protection Program loan fraud, it’s to get a competent legal team specializing in PPP loan fraud on your side as soon as possible. The seasoned attorneys at Spodek Law Group have extensive experience handling similar matters and represent one of the ways for ensuring an effective defense strategy that can protect your interests and avoid severe consequences. To receive guidance on your case, contact Todd Spodek for a free consultation by calling (888) 981-0046 or visiting our website.